JPMorgan: Bitcoin Fails to Benefit from Safe-haven Flows Driving Gold Rally

CoinRank News: Analysts at JPMorgan Chase said that safe-haven demand is pushing up gold prices, while Bitcoin has failed to benefit. In a report released on Wednesday, a team of JPMorgan analysts led by Managing Director Nikolaos Panigirtzoglou pointed out that investors seeking safe havens are driving funds into golds exchange-traded funds (ETFs) and futures markets due to macroeconomic uncertainty. In contrast, Bitcoin has been left aside. Analysts pointed out that speculative interest in the Bitcoin futures market is waning, and ETFs have also seen continuous outflows of funds. (The Block)